MIDLAND, Texas (AP) _ Clayton Williams Energy Inc. (CWEI) on Thursday reported a loss of $27.2 million in its fourth quarter.
On a per-share basis, the Midland, Texas-based company said it had a loss of $1.54. Losses, adjusted for one-time gains and costs, were $1.49 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.71 per share.
The independent oil and gas company posted revenue of $161.5 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $42.1 million.
For the year, the company reported that its loss widened to $292.2 million, or $20.87 per share. Revenue was reported as $289.4 million.
Clayton Williams shares have risen 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $136.53, climbing ninefold in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CWEI at https://www.zacks.com/ap/CWEI
Keywords: Clayton Williams, Earnings Report